Sanari Capital, a leading private equity firm based in South Africa, has achieved a significant milestone with the final close of its Sanari 3S Growth Fund. The fund has raised an impressive R1.5 billion (approximately $80 million), marking a strong commitment to fostering growth in mid-market businesses across Africa, particularly those driven by technology, innovation, and sectoral growth trends.
A Milestone in African Private Equity
Samantha Pokroy, CEO of Sanari Capital, shared her excitement about the fund’s successful close, emphasizing the trust it reflects in the firm’s investment strategy. “With four investments already made and a robust pipeline of opportunities that align with our themes, this capital enables us to execute our plans swiftly. We are optimistic about the positive impact this will have on the ground and on the fund’s returns,” she said.
A Diverse and Confident Investor Base
The Sanari 3S Growth Fund has attracted a wide range of institutional investors, demonstrating broad confidence in its vision and approach. Key investors include:
- Public Investment Corporation (PIC)
- Alexforbes Investments
- 27four Black Business Growth Fund
- Telkom Retirement Fund
- Motor Industry Retirement Funds
- RisCura
- National Fund for Municipal Workers
This diverse investor base underscores Sanari Capital’s reputation and its ability to bring together stakeholders committed to advancing African businesses.
Scaling Businesses with Global Potential
Sanari Capital’s investment strategy targets mid-market businesses with significant scaling potential, offering investments of up to R250 million (approximately $14 million). The firm’s current portfolio is a testament to this vision, with companies generating about 60% of their revenues in hard currency, reflecting strong export orientation and geographic diversity.
Moushmi Patel, Executive Director of Sanari Capital, highlighted the global demand for South African innovation: “We are continuously inspired by the compelling technology and innovation that thrive in our market.”
Portfolio Highlights
The fund’s portfolio includes businesses that are making a notable impact in their respective industries:
- Edulife Group: Providing affordable schooling solutions.
- LightWare LiDAR: Developing the world’s smallest and lightest LiDAR sensors.
- iiDENTIFii: Africa’s leading enterprise identity verification company.
- Energenic Holdings: A pan-African energy solutions provider.
Commitment to Transformation and Economic Impact
Sanari Capital places a strong emphasis on diversity, transformation, and economic impact in its investment approach. Sihle Gumede, a representative of the firm, commented, “Private equity has a pivotal role in transforming our economy.”
This commitment is evident in the firm’s focus on fostering growth that not only delivers strong financial returns but also drives meaningful change across the African business landscape.
Sanari Capital’s R1.5 billion fund marks a new chapter in supporting technology-driven African enterprises, showcasing the potential of private equity to empower innovation and transformation in the region.